Hanford releases first Annual Comprehensive Financial Report; staff warns of ongoing budget pressures despite Measure H

Hanford City officials presented the city’s first Annual Comprehensive Financial Report (ACFAR) and a two‑year budget outlook during a study session, describing steady recovery in reserves but significant ongoing capital and operating pressures.

Finance Director Chris Tavares told the City Council that the ACFAR provides expanded narrative and statistics beyond the standard financial statements required by the state. He said the city’s general fund reserve — a key measure of fiscal health — stood a little above 28 percent at the time of audit and that the city is working toward a policy goal of 35 percent.

The nut graf: The presentation framed the city’s finances as improving from prior years but still constrained: the city is repaying a multi‑year settlement,…